Wong, et al vs. Fidelity – Finding New Ways to Get Revenue

In its thirst to maintain and grow assets under administration in an increasingly competitive and dwindling fee environment, a recordkeeper must find a balance between the services it offers and the...


Davis vs. Stadion Money Management, LLC + United of Omaha Life – a First Look

This class action lawsuit shines a light onto the revenue sharing (or possible self-dealing and prohibited transactions) relationship between a recordkeeper and a managed account provider.  Although...


A Reflection on the 8th Circuit Appeal Court's Decision to Dismiss Fiduciary Claims Against American Century

On June 30, 2016, a class action complaint  was filed by Steve Wadman, et al (Plaintiffs), against American Century (Defendants).  On January 23, 2019, Chief Judge Greg Kays, issued a finding of...


2019 Annual Qualified Retirement Plan Contribution Limits

On November 1, 2018, the Internal Revenue Service announced[1] cost of living adjustments affecting dollar limitations for pension plans and other retirement related items for Tax Year 2019. Some of...


2019 HSA Plan Limits

On May 14, 2018, the Internal Revenue Service issued Revenue Procedure 2018-30 , announcing the 2019 inflation-adjusted amounts for Health Savings Accounts (HSAs), as determined under the Internal...


Response to the 5th Circuit Appeal Court's Decision

In response to the 5th Circuit Appeal’s Court decision, Mabel Capolongo, Director of Enforcement Regional Directors at the DOL today issued “FIELD ASSISTANCE BULLETIN NO. 2018-02” which states:...


5th Circuit of Appeal Vacates the Fiduciary Rule

The U.S. Chamber of Commerce (“COC”), the Indexed Annuity Leadership Council (“IALC”) and the American Council of Life Insurers (“ACLI”) (“Plaintiffs”) brought a lawsuit to challenge...


Philip Chao in InvestmentNews Article on Retirement Plan Advisers Needing B-Ds

The reasons for affiliating with a brokerage have changed as adviser compensation has evolved. Please read the entire article here.


Philip Chao in InvestmentNews Article on Managed Accounts Push in 401(k) plans

Some providers are paying incentive compensation to representatives to promote their managed accounts to participants. Please read the entire article here.


BICE Implementation Delayed Until 07-01-2019

The U.S. Department of Labor extended the transition period for fiduciary rule exemptions. Here is the link to the press release on the DOL website.